* Net advances were £1,315 million in March 2004, up from £958 million in March 2003.
* Approvals (loans agreed, but not yet made) increased to £5,047 million in March 2004, from £3,840 million in March 2003.
* In the savings market, building societies had net inflows of £566 million in March 2004, up from £505 million in March 2003.
* Building society net receipts into cash ISAs were £1,153 million in March 2004.
Commenting on the mortgage market, Adrian Coles, Director-General of The Building Societies Association said:
"Building society net advances have increased by 37% in the year to March 2004, starkly re-emphasising the attractions of building society mortgage products in a strong housing market. The value of loans approved but not yet lent are over 31% higher than a year ago, demonstrating that building societies have had a busy first quarter of 2004."
On the savings side, Mr Coles said:
"Building societies started the year on a high note. Net savings inflows are well up on March 2003, underlining the fact that large numbers of investors find that building societies meet their needs. As the end of the tax year approached, net receipts into cash ISAs also had a significant impact on inflows".
